Great advice for buyers and sellers of property in Poitou Charentes

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For those of us that keep an eye on the financial markets you will know that we are not out of the woods yet. The pound continues to fluctuate against the euro and for those of us that are used to the glory days of a pound being equal to 1.50 euro, the current state of affairs has come as a bit of a shock.

However in the second quarter of 2009 the French economy is reported to have grown by 0.3% - this may not seem like much but officially France is technically out of recession. For how long this will last and how realistic this is no one can tell but it seems that France is back on track and looking to move forward. Certainly the summer months and deep, blue azur skies help breed a feeling of positivity and a certain feeling of prosperity.

However many estate agencies over the last few months have continued to the feel the effects of a slow down in the economy. Less clients, fewer mortgages accepted and a feeling of malaise across the board has forced some to close and many others to cut down on staff in order to weather the storm.

No agency can deny that over the last year there has been a lot less buyers and those that do secure the property that they desire finding it a lot harder to do so but the desire to move has not waned. The French market has not diminished and the English speaking market has not disappeared. Overseas property shows report that they continue to be busy and recent reports suggest that estate agents specialising in the English speaking market are beginning to see an increase in clients.

So what should you do if looking to buy abroad?

The first thing to say is to ensure that your funds are in place or at least to know exactly where they are coming from. Good properties still tend to move quickly and there is no time for people to spend time deliberating over their decision. Speak to your mortgage adviser and know what your limits are. Do not expect to be able to just borrow the amount that you want to. Make sure that you have your figures on paper and make sure that they relate to your current financial situation. This may sound ridiculous but many a time have we seen clients who brought out with them a mortgage proposition from over a year before and think it still be valid. Or whose personal or financial situation had changed so dramatically in the interim that the figures used previously no longer related to their current day situation.

If you have funds to move across to France, ensure that you have spoken to your bank or exchange broker before you travel and know what the delays are.

Be prepared to negotiate but be realistic in your expectations. A price is set for a reason and it is unlikely that any vendor is going to take a massive cut in price just because that is the amount that you want to pay for it.

If you are a vendor then the same applies. Prices of property in France have not really fallen that far but nor have they increased. Be realistic and listen to the estate agent that comes to value your property. Get a range of estimates if necessary and work from there. Do not take the highest estimate as gospel. Your property needs to be marketed at a price that suits the current market and ensures that you are going to get potential buyers. Setting your price too high just means that your property will sit on the market for much longer than you would have hoped.

Make your property look attractive both on the inside and outside. Brighten up dark rooms, keep the house as clean and tidy as you can, finish off any of those outstanding DIY jobs that you have been saving up and keep the garden tidy.

Make sure you are (and your property) are available for visits. There is nothing more frustrating for an agent than having finally found you a good, potential buyer to be told that your home is not available for visits this week or even this month.

The French market is set to increase but perhaps not with the same vigour as in years gone by. I think it could be best described as a much slower but sedate pace rather than the crazy phenomenon we have witnessed in the last nine years or so. French house prices have started to become more obtainable and the banks, whilst slightly more severe in their lending criteria, have managed to avoid giving to mortgages to people that sooner or later just would not be able to afford them.

Written by Nikki Barnett - of Europe Immo Jonzac

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